Describe about the Essay for Develop Organizational Market.
Marketing evaluation concepts, methods, techniques as used in marketing analysis
The competitor analysis in the marketing is an assessment of generally the strengths and the weakness of any current and potential competitors. In this analysis, it provides both the offensive and also the strategic defensive concepts aimed at identifying the opportunities and the threats to the business. The idea of the competitor’s analysis is imperative to the corporate strategy implementation. It is important to note that the competitor’s analysis is done about the competitors of the business. It is done on the analysis of the rival firms. You try to figure on the situations that may provide the opportunity and the threat to the businesses (Bell, 1979).
The life cycle model is traditionally broken down mainly into four stages; the introduction, the growth, the maturity and the decline. (Bell, 1979)In the introduction stage, the product is released to the market. This entails the pricing and the branding decisions which are made for the marketing begins. On the growth stage, the vendors work on their increasing on the brand recognition and the market share. The next stage is the maturity stage, in which the saturation of the market is achieved fully. At this stage, the attempt is to maintain the market share. (Bell, 1979) On the decline, the stage is where the production decline and an exit strategy is to be set in the motion.
In every business, it needs to have access and the evaluation of the performance of their marketing. This is thus achieved through the monitoring on how well each product is doing within a product portfolio, or the product mix is performing. (Berry, 1995) In this process, it should clearly highlights on whether the business money set aside is for the marketing budget is used effectively. The portfolio analysis is a technique that is utilized by the firms that identify the position of each product that are within the market. An example of the method used is the Boston Matrix that analysis on the goods and the services of the business in regards to their share of the market.
On the SWOT analysis is a model that is used to analyze the organization’s strengths, weaknesses, opportunities and the threats to create a foundation of the marketing strategy. In this regards, the analysis takes into account of what the organization can do, what it cannot and the favorable and the unfavorable conditions in regards to the products and services of the firm. This analysis will help in the capitalizing on the opportunities by use of the strengths. Besides, it will also contribute to avoiding on the threats and minimization of the weaknesses. (Bell, 1979) The overall output, if these are achieved, would bring an increase in the customer value and improve on the competitive advantage of the firm.
On this concept, it examines the development of the competitive advantage. On the analysis, it consists of a series of activities that creates and build on the value. It relies on the basic economic principles of the advantage. (Dibb, Simkin, Pride & Ferrell, 2005)In other words, the companies operate in the sectors that they have a productive position as compared to their competitors. It is important to note that the activities in the organization add the value to the services and the products that particular team produces. These activities, therefore, should be running at optimal levels for the group to gain the competitive advantage. In so doing the value obtained would be greater than the costs of running them.
The financial management is essentially an integral part of the overall administration of the firm. It majorly focusses on the duties of the financial managers in the organization. Various techniques of the financial management are highlighted as below;
On this technique, it shows the list of the asset that is owned by individuals, the creditors, the banks and the lenders. The financial statement may include the balance sheet, in which the business can use to assess their net worth and how much debt the company owns. (Bell, 1979) The net worth of the firm may be calculated by taking on the appraisal or the current value less to the money held.
On this technique, it outlines on all the money that is received from all the activities of the business or the cash that is generated from the assets and the expenditures which are made within a given time frame. This concept helps to provide the company with the money management tools for the analysis of the income and the expenditure. (David & David, 2016) An example of the budget in business for the upgrade of the machinery to improve the quality and the quality of the product of the services offered by the firm.
III. Debt Snowball technique
On this technique is to provide the financial management materials for the repayment of the debt. It is important for the company to clearly highlight on the securities that are owned by the lenders, the banks, and the creditors. (Bell, 1979) On this technique present a plan for the repayment of the debt in a logical manner from the least to the largest. An example is having the debts payment from the smallest and working to the large ones like the massive bank loans.
organizations mission
Mission
The mission of the company is to produce the best premium coffee quality blends. The R& D department is continuously doing research to maintain the highest standard of the quality coffee.
Purpose
The purpose of the A& A company is to offer high-quality coffee with some of the proceeds going towards the funding of the wellness of the less privileged in, the less developing countries in the world.
Vision
The primary objective is to be able to be among the leading providers of the highest quality coffee. The essence is to aspire to inspire the coffee drinkers into coffee lovers and to sharing the love to the excellent brew to every coffee pack.
Values
The company is actively dedicated to operating within the set norms of the corporate values towards the business partners, the employees, and the consumers. (Varadarajan & Menon, 1988) This is achieved through commitment, passion and the driving force of the dedicated employees.
Direction
On the guidance of the A & A’ Company they choose their value proposition and let their customers select their product. They did so by offering products that are of high-quality espresso and milk in a setting that is comfortable, and they invited everyone to join in. (Berry, 1995) Their direction as a company is to provide the product that is of high quality and to achieve this the company decided to offer the various franchise in different regions of the world. Besides, the company took measures of proving fair prices of their products, so as to gain a significant market share more so from their competitors.
Target
The target market for the company are the men and the women that are aged between the ages of 24 to 35 years old. These individuals account for almost half of the total business customers. (Moore & Reichert, 1983) The major aspect of attracting this group is as a result of the consistent advertisement undertaken by the company so as to keep the products currents the as result of the changing market dynamics. Another target group is the young adults that are aged between 18 to 23 years old. (David & David, 2016) The company appeals to this group by introducing the technology as it frequently comes on a daily basis. They do this by focusing on the social networks and cultivating on a crisp image.
SWOT analysis.
Strengths
The uniqueness and being the first. The brand of the company is unique in every aspect.
The A& A company withhold their values with their customers, the partners of whom they are the core values of the business, and they uphold them in every way.
The company upholds on the innovation, by understanding it is more on the technological advancement and also by the provision of the valued experiences.
The presence of a strong market position and brand recognition. This is achieved by having an extended operation of the shop in various parts of the world.
Having high-quality products. The company strives at the provision of the products that are of high quality to their customers.
The product price of the coffee is relatively high. Some of the consumers cannot afford to buy a cup of coffee since it is relatively expensive.
There is an issue of the cannibalization.in some of the region the company has aggressively expanded leaving no room for the expansion.
Clash of the culture of the coffee. In some of the region like Europe, individuals have not fully accepted the coffee culture. Thus, it will likely take some time to be the global brand.
The issue of the generalized standards for most of the product. It’s hard to the consumer to differentiate the best quality since all are generalized.
Imitation of the products. There are many counterfeits in the market, and it is a challenge to know the genuine products from the fake.
The expansion of the company into the new market. The aspect of cannibalization clearly indicates there is room for the enlargement into a new market of the coffee brand.
The development of the product mixes and the offerings. The company has started to expand on the mix by adding more products to their portfolio.
There is the presence of the technological advancement. The company has ventured on the use of the mobile app that will provide the customers with the programs of the rewards and creation of a friendly environment.
There is the application of the new ways of the distribution. There is an investment for a delivery system to increase the revenues.
The expansion of the business to more market diversifications. The company is aimed to expand the market to Europe, Asia, and even Africa.
There is increased competition which is the biggest threat to the company. There are many competitors in the market providing the similar series which offers a significant risk to the enterprise.
The increased price of the coffee beans. It is stipulated that the price of the quality coffee beans might be raised which will cause the overpriced coffee to get higher.
There is an aspect of the brand imitation more so from the other competitors who imitates on the impression of the brand strategy, and they have introduced the same products.
There is a change in the lifestyle and the preferences. The consumers are opting to switch on to the healthier products, and the culture of the coffee is diminishing.
The crisis that affects the economy of the developed country which may affect the revenues of the company through loss of a customer base since they opt for the cheaper brands.
Legal requirements
On the aspect of the legal requirements, the company strives on following every legal doctrine in their operation like the provision of the high-quality products, tax requirements, and the operation permits.
Business ethics
The company makes efforts to be responsible in the way they conduct their business. Some of the ways they contribute are through community service, sourcing, and the diversity on what they strive to undertake.
Effectiveness of marketing initiatives
On the marketing performance of the company is to stay on the competitive and the growth of the business. The company is under high pressure from the competitors in the provision of the high-quality products. The key aspect is to stay competitively by constant changing environment through effectively having an active customer relationship and identifying the most valuable prospect and customers.
Marketing opportunities
There are marketing opportunities for the organization as many individuals love the coffee product through the world. The major advantage to help to diversify and stay relevant in the market is the presence of the high-quality products. There are opportunities more so to the Europe regions, Africa, and the Middle East.
Profitability of the opportunities
The A & A’ organization performance is usually driven through the lens of the humanity. The performance is usually the price of the admission in which the company is aimed to achieve in the long term. The opportunities on the new market will significantly help to increase the revenue for the organization. On the market share of the company, it is approximated to increase from $27.8 per share to approximately $ 57 per share to the next 5 five years. (Berry, 1995) With the new opportunities, the revenue will significantly increase over the next several years if the new market opportunities are ventured.
The product position entails the way the product is defined by the consumers in regards to the different attributes like; the price, the quality, the competitors and the quality. The A & A’ organization tried to position their products in a way to distinguish themselves from the other competitors and provide them with the transactional marketing. (Dibb, Simkin, Pride & Ferrell, 2005)The profits that are gotten from the retained customer relationship became the key to the marketing and the business. The aspect of the relationship marketing help in delighting with clients rather than the satisfaction. The positioning of the organization focused on the benefits of the customers and the produce provision.
References
Bell, M. L. (1979). Marketing, concepts and strategy. Houghton Mifflin Harcourt.
Berry, L. L. (1995). Relationship marketing of services-growing interest, emerging perspectives . Journal of the Academy of marketing science, 23(4), 236-245.
David, F., R & David, F. R. (2016). Strategic Management: A competitive Adantage Approach, Concepts and Cases.
Dibb, S., Simkin, L., Pride, W. M., & Ferrell, O.C . (2005). Marketing: Concepts and strategies(p.850). Houghton Mifflin.
Moore, J.S., & Reichert, A. K. (1983). An analysis of the financial management techniques currently employed by large US corporations. Journal of Business Finance & Accounting, 10(4), 623-645.
Varadarian, P. R., & Menon, A. . (1988). Cause-related marketing: A coalignment of marketing strategy and corporate philanthropy. The journal of Marketing, 58-74.
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